AOL quietly revealed a beta version of <A HREF="">UnCut</A>--the internet giant's new community video application--earlier this week. The 'YouTube Killer,' as it

AOL quietly revealed a beta version of UnCut—the internet giant's new community video application—May 11. The 'YouTube Killer,' as it is being dubbed in the blogosphere, comes on the heels of AOL's AIM Pages launch, the company's answer to social networking Web sites such as MySpace.

UnCut is free and users are able to view and upload videos of up to five minutes in length. The application features comments and ratings, and topic categories include music, comedy, news, sports, and short movies.

Beta one, which is live now, will be followed by a second before the application's proper launch. The full launch is being eyed for end of June or beginning of July, according to a company source.

At this point UnCut is solely a community feature and does not include promotions or featured content from partners. But AOL is reserving the right to use videos from UnCut across other AOL platforms—and possibly elsewhere—a point picked up on by some music and technology blogs, such as Hypebot and BlackRimGlasses.

A video release form required for all submissions states AOL has the "the irrevocable, perpetual, worldwide right to use, reproduce, edit, market, store, distribute, have distributed, publicly and privately display, communicate, publicly and privately perform, transmit, have transmitted, create derivative works based upon and promote" videos uploaded.